Minnesota Management and Budget Office
Minnesota schools are receiving catch-up payments from the state, which had been partially delaying allowances to ease prior budget shortfalls. A memo from the Minnesota Management and Budget agency says schools are back on their regular payment schedules as of Tuesday.
Leading figures from Minnesota’s state budget agency are headed to Wall Street for meetings with influential credit rating firms. The bond house trips are typical after a new state budget is adopted and before the state gets ready to issue long-term debt to pay for construction projects.
Minnesota’s tax haul for April was $153 million better than forecasters had expected, a strong month that probably has little effect on the trajectory of legislative budget talks.
A Minnesota Management and Budget official says the state won’t have to borrow to pay bills this month, but might have to in a few months.